What is the difference between a property tax lien and a tax deed?

A property tax lien and a tax deed are two different legal processes that are used in Virginia when someone doesn’t pay their property taxes. A property tax lien is a legal claim placed on property to guarantee payment of taxes or other debt. A lien is placed against the property and can only be removed by paying the debt that is owed. In Virginia, a lien will be placed against a property if the owner has not paid their taxes for more than a year. A tax deed is the process that the local government uses to force the sale of a property to recover the amount of unpaid taxes. In Virginia, if taxes remain unpaid for two years after the tax lien has been placed, the local government can issue a tax deed to the property. This deed will allow them to sell the property at a tax sale, with the proceeds going to the local government to pay for the taxes that the owner owes. The main difference between a tax lien and a tax deed is that a lien is a legal claim on property to guarantee payment of taxes, while a tax deed is the process of selling the property to recover the amount of unpaid taxes.

Related FAQs

How can I find out what my property tax liability is?
What is a property tax abatement?
What is the due date for my property taxes?
How are new property taxes calculated?
What are the different types of property tax exemptions?
How do I calculate the property tax increase on a new assessment?
How does a property tax assessment work?
What is a property tax freeze?
What is a split roll property tax?
How do I transfer ownership of a property to avoid paying property taxes?

What is the difference between a property tax lien and a tax deed?

Related FAQs

Related Blog Posts